Ideal Power Reports Third Quarter 2025 Financial Results

Core Insights - Ideal Power Inc. reported its third quarter results for 2025, highlighting significant operational progress and financial metrics [1][3]. Operational Highlights - The company secured a purchase order from Stellantis for custom development and packaged B-TRAN® devices aimed at multiple electric vehicle (EV) applications, completing the first of five deliverables under this order [3][5]. - Ideal Power's first design win customer has successfully tested an updated prototype of solid-state circuit breakers (SSCBs) and is finalizing their product design for an AI data center target [2][5]. - Engagement with a sixth global automaker is underway, evaluating B-TRAN® for low-loss, solid-state solutions for EV power switching and protection applications [5]. - The power rating of the discrete B-TRAN® product has been increased by 50%, leading to heightened interest from both existing and new customers [5]. - Third-party automotive qualification and reliability testing of B-TRAN® devices is ongoing, with over a thousand packaged devices tested and no failures reported to date [5]. Financial Performance - Cash used in operating and investing activities in Q3 2025 was $2.7 million, up from $2.4 million in Q3 2024 [5]. - The net loss for Q3 2025 was $2.9 million, compared to a net loss of $2.7 million in Q3 2024 [5]. - Operating expenses for Q3 2025 were $3.0 million, slightly higher than $2.9 million in Q3 2024, attributed to increased research and development spending [5]. - Cash and cash equivalents totaled $8.4 million as of September 30, 2025, down from $15.8 million at the end of 2024 [10][12]. Patent Portfolio - Ideal Power currently holds 97 issued B-TRAN® patents, with 47 issued outside the United States and 73 pending, covering regions including North America, China, Taiwan, Japan, South Korea, India, and Europe [5].